Wall Street brokerages predict that Flowserve Corp (NYSE:FLS) will report $0.51 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Flowserve’s earnings, with the lowest EPS estimate coming in at $0.48 and the highest estimate coming in at $0.54. Flowserve reported earnings per share of $0.22 in the same quarter last year, which would suggest a positive year over year growth rate of 131.8%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 14th.
On average, analysts expect that Flowserve will report full year earnings of $2.21 per share for the current year, with EPS estimates ranging from $2.15 to $2.31. For the next year, analysts forecast that the firm will post earnings of $2.58 per share, with EPS estimates ranging from $2.43 to $2.80. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Flowserve.
Flowserve (NYSE:FLS) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.07. Flowserve had a net margin of 4.25% and a return on equity of 13.46%. The company had revenue of $890.05 million during the quarter, compared to analysts’ expectations of $943.79 million. During the same period in the prior year, the company earned $0.27 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year.
Shares of FLS traded down $0.11 during trading hours on Tuesday, reaching $51.28. 1,231,030 shares of the company traded hands, compared to its average volume of 782,009. The firm has a fifty day moving average of $50.70. The firm has a market cap of $6.72 billion, a PE ratio of 29.30, a P/E/G ratio of 1.49 and a beta of 1.62. The company has a current ratio of 2.17, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. Flowserve has a 1-year low of $35.88 and a 1-year high of $56.86.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 5th. Investors of record on Friday, June 21st were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.48%. The ex-dividend date was Thursday, June 20th. Flowserve’s dividend payout ratio (DPR) is presently 43.43%.
In other news, insider John Lenander sold 5,761 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $49.32, for a total transaction of $284,132.52. Following the completion of the sale, the insider now owns 16,568 shares of the company’s stock, valued at $817,133.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.36% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its holdings in Flowserve by 6.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 11,145 shares of the industrial products company’s stock valued at $423,000 after buying an additional 628 shares during the last quarter. Advisor Group Inc. raised its position in shares of Flowserve by 1,594.1% in the 4th quarter. Advisor Group Inc. now owns 10,995 shares of the industrial products company’s stock valued at $418,000 after buying an additional 10,346 shares in the last quarter. Northern Trust Corp increased its position in Flowserve by 3.3% during the 4th quarter. Northern Trust Corp now owns 1,450,054 shares of the industrial products company’s stock worth $55,132,000 after purchasing an additional 46,145 shares in the last quarter. Great West Life Assurance Co. Can increased its position in Flowserve by 0.6% during the 4th quarter. Great West Life Assurance Co. Can now owns 84,804 shares of the industrial products company’s stock worth $3,067,000 after purchasing an additional 505 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Flowserve by 11.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 21,708 shares of the industrial products company’s stock worth $825,000 after purchasing an additional 2,200 shares in the last quarter. 98.53% of the stock is owned by institutional investors.
Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).
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